I can’t wait to “consume, mash up and share the content based on rights”! That sounds fun!

As Gruber points out, there are a number of technical impracticalities and impossibilities assumed in this plan. Most significantly, they can ask the music labels how effective DRM is when they assume that the “format protects content everywhere” while still enabling any semblance of RSS and search that anyone will actually use. They could require RSS readers and search engines to include special DRM-enforcing support to access their content, but given that the predominant player in both markets by far is Google, that seems unlikely.